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HP To Cut 5,000 Jobs

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There will be huge job cut at Hewlett Packard. At least 5,000 people will become jobless, reveals people familiar with the matter.

It is learned the reductions will start before the end of 2017 and most of the workers will be affected in the United States.

The job cut decision will cite the mounting competition and increase in expenses. Even managers will lose their jobs.

However, no official word has come from the HP Enterprise as of now, but since 2015 CEO Meg Whitman has been jettisoning divisions in the company including personal computers, business services, printers and key software units.

It is said with the job cut the company could be more responsive to the changing industry and pressure from cloud providers like Google and Amazon are mounting high.

Very recently analysts said even though the company is benefiting from higher demand across key areas, but HP is also trying to cut layers within the house to become more efficient.

The analyst added, “With fewer lines of business and clear strategic priorities, we have the opportunity to create an internal structure and operating model that is simpler, nimbler and faster.”

Meanwhile, CFO Tim Stonesifer said HP has a target of saving $1.5 billion over a period of three years.